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Posts Tagged ‘pacific real estate partners’

HealthDex (hospital/provider|managed care|equipment)

Central Business District

Wellness Annex – Water Tower | 5331 SW Macadam Ave | 1,052 RSF

Vancouver

Adventist Medical Center – Fishers Landing Med/Dent Bldg | 417 SE 164th | 10,500 RSF

Manual Medicine & Rehab Ctr – Mill Plain Plaza | 5000 E Fourth Plain | 2,785 RSF

Westside

CrossFit Recon – Sunset Highway Biz Ctr | 23650 NW Clara Lane | 2,823 RSF

NW Scrubs Inc – Beaverton Creek | 3003 SW 153rd Dr | 2,053 RSF

Central Business District

The Portland Clinic – Marquam Building | 2501 SW First Ave | 4,649 RSF

GeneralBizDex (consulting|finance|insurance|legal|other)

Eastside

General Steamship – 1500 Plaza | 1500 NE Irving St | 2.030 RSF renewal

STX Pan Ocean – 1500 Plaza | 1500 NE Irving St | 1,429 RSF

Caroline Cantrell – 1500 Plaza | 1500 NE Irving St | 2,145 RSF renewal

Central Business District

Union Bank of Cal Global Custody – Union Bank of Cal Bldg | 707 SW Washington | 28,445 RSF renewal

Westside

Ameriprise – 9665 SW Allen Blvd | 2,200 RSF

Probity Builders – 4800 SW Griffith | 2,604 RSF sublease

Liberty Mutual Insurance – Amberglen | 1925 NW Amberglen Pkwy | 12,295 RSF

TechDex (apps|provider|hardware|var)

Vancouver

NXP Semiconductor – Park Tower Biz Ctr | 201 NE Park Plaza Dr | 1,240 RSF renewal

Central Business District

CrossCurrent – Water Tower | 5331 SW Macadam Ave | 3,605 RSF renewal

SustainDex (environmental|sustainable|clean/bio tech)

Central Business District

First Wind Energy – Public Service Building |920 SW Sixth St | 2,137 RSF

SALE

Property: 6140 SW Macadam Ave, Portland, Oregon 97239

Buyer: G&B Macadam

Seller: Sunset Fuel

Type: Industrial Site

Price: $2.5 Million

Size: 22,406 RSF

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Slalom Consulting, a business & technology consulting firm and its sister company  Two Degrees, a finance & accounting project resources firm opened new offices this week.  The two firms wanted to relocate from the Director Building to Fox Tower in downtown Portland. Given their high growth, they wanted to establish themselves in the Portland area and provide flexibility for additional space. Their move was an expansion and an opportunity to land tenancy in a very popular and nearly 100% occupied office building. The ideal criteria included a combination of office and open floor plans for collaboration, solid infrastructure, nearby retaurants and a convenient location to meet with potential candidates and current clients.

The end result, after nearly 8 months of touring, negotiating terms and reviewing finishes, is a beautiful office divided into two distinct businesses.  The natural light is ushered into the center of the space through floor to ceiling windows and several glass relites on the perimeter conference rooms. Dark, hardwood floors grace the reception area  and hints of chocolate brown are throughout the space for continuity.

There are 4 offices, 4 conference rooms, hoteling stations, open workstations, a breakroom and a production area. The reception area opens to the large conference room with views due east to the Cascades. Other tenants in the building include: UBS, CollegeNet, IdeateHoffman Construction, Moss Adams, Cosgrave Vergeer and the US Secret Service.

Building Name: Fox Tower

Address:  805 SW Broadway, Suite 2500, Portland, OR 97205

Square Feet: 4,882 RSF

Kitchen/Break Room

Hallway lined with glass relites

Reception Wall with Bike Art

Hoteling workstations

Reception EntranceSmall Conference Room with Glass Whiteboard

Reception Area

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HealthDex (hospital/provider|managed care|equipment)

Westside

Apex Laboratories – Park 217 | 12232 S W Garden Place | 6,000 SF expansion

GeneralBizDex (consulting|finance|insurance|legal|other)

Westside

Anderson & Yamada – Peterkort Centre II | 9755 SW Barnes Rd | 2,806 SF

Bank of America – 6000 Meadows Rd | 5,084 SF renewal

Hoffman Stewart Schmidt – 4900 Meadows | 4900 Meadows Rd | 12,014 SF

Cooney & Crew – 4949 Meadows | 4949 Meadows Rd | 3,922 SF renewal

Central Business District

EGT Development – One Main Place | 101 SW Main St | 5,384 SF

Princeton Review – Westfal Building | 421 SW Hall | 3,500 SF

Eastside

Splash Northwest – Olympic Mills Commerce Ctr | 107 SE Washington St | 2,902 SF

Chemical Logistics – 2730 NE Riverside Way | 16,000 SF renewal

TechDex (apps|provider|hardware|var)

Westside

NetApp – Kruse Oaks II | 5400 Meadows Rd | 3,497 SF

System Maintenance Svs Holding – Allen Biz Pk | 9665 SW Allen Blvd | 3,463 SF

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Highly regarded financial advisor Judith McGee had a few thoughts to offer on the current credit market and what she sees as, if at least modestly, improving markets this year. Though cautious on her observations, Ms. McGee points out that money market indicators are showing signs of better times ahead.  An important signal to track is the Ted spread (the gap between the rate of the three month Treasury bill and the lending rate banks charge each other).  She points to the fact that in November 2008, banks were not lending to one another thus causing the Ted to stretch to 450 basis points, a colossal jump in the wrong direction over a short timeframe. It is currently down around 100 basis points, a vast improvement.  The average from 2002 to 2006 was 25-30 basis points, so clearly we have some work to do, but it looks attainable at this point.

From a commercial real estate standpoint, this means that, very slowly, commercial investors can hope to see some lending make a re-appearance in lower risk markets first followed by more troubled areas.  Portland is lower risk, though considered a second tier investment market, with our neighbor to the north considered a good first tier investment by many.  I’m not sure if we have seen the full effects as a result of Wamu’s collapse (whose 700,000 SF downtown office tower will be vacated) and Boeing’s continued layoffs, which could change the outlook for Seattle. 

The story references statistics provided by my partner and I through our quarterly report on the market conditions in Portland and Vancouver.  If you are interested in receiving our quarterly report, contact me at kristin.hammond(at)pacific-re.com.

Here’s the article from the DJC – http://tinyurl.com/blpefchttp

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